Philippines-based crypto firm Coins.ph raises $30 million

Oluwajuwonlo Afolabi -

Coins.ph, a fiat and crypto wallet service provider based in the Philippines has raised $30 million in its Series C funding round led by Ribbit Capital with participation from other investors.

  • The funds will help the company to scale its web3 ecosystem, P2E gaming and crypto-related services in Southeast Asia, it claims.
  • The firm plans to add more cryptocurrency tokens, relaunch its exchange (Coins.Pro), offer increased crypto-driven merchant and payment services and enter new markets.
  • Launched in 2014, Coins.ph is a crypto brand that offers app-based buying and selling of cryptocurrencies and wide-scale financial services in the Philippines.
  • The central bank licensed crypto platform currently has over 16 million users and is regulated by Bangko ng Pilipinas (BSP).